Investment - Articles - European regulator warns politicians on Solvency II delay


 In the strongest warning yet to the European Commission and the European Parliament over Solvency II, EIOPA chairman Gabriel Bernadino has said in a letter to them that delays would lead to "the development of national solutions and hinder the efforts for achieving European convergent practices, which is at the heart of the project."
 The warning comes after the European parliament's Economic and Monetary Affairs Committee postponed a vote on proposed changes to Omnibus II until March because of technical and political issues.
 One area eagerly awaiting clarification by global insurers is how the US will be assessed for transitional equivalence after the European Commission set out on Friday which countries it has asked EIOPA to assess during 2012.
 Meanwhile, a survey by UK lawyers Evershed revealed that 51% of City of London businesses feel that Solvency II should be simplified, with 27% saying that it does not require any changes.

Back to Index


Similar News to this Story

How should investors react to the current tariff uncertainty
The first quarter of 2025 had already been a turbulent one for markets. It was of course the first three months of the new Trump administration in the
Understanding risk appetite is key to avoid spiralling costs
The costs to corporate sponsors could be significant if they don’t consider their risk appetite before engaging with insurers as they plan a buy-out a
Pension redress remains at historic low
The ongoing review of the Financial Ombudsman Service (FOS) – along with broader attempts to lighten the regulatory load – offers a significant opport

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.